LACROIX Group (LACR) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 was €350.3m, down 7% year-over-year from €376.7m, reflecting lower sales in both Electronics and Environment activities.

• Group net loss reached €16.9m, compared to a profit of €4.6m in H1 2023, impacted by impairment and discontinued operations.

• The City-Mobility segment was reclassified as discontinued, and the Road Sign BU was sold, resulting in significant one-time charges.

• Adjusted EBITDA for continuing operations was €18.3m, down from €23.6m in H1 2023.

Financial highlights

• Operating profit fell to €4.5m from €11.5m year-over-year.

• Basic EPS was negative at €(2.84), compared to €1.20 in H1 2023.

• Net debt increased to €124.8m, with gearing at 72.9% versus 59.4% at end-2023.

• Cash and cash equivalents decreased to €29.9m from €42.5m at end-June 2023.

• Capital loss of €3.0m on Road Sign BU sale and €10.0m impairment on City-Mobility segment.

Outlook and guidance

• Focus on core markets with higher growth and positive impact, following divestments.

• City-Mobility segment disposal expected within 12 months; impairment may be revised at year-end.

• No significant tax adjustments expected from ongoing audits.